Automated chucks have recently been introduced into the marketplace. Such chucks typically employ only two user selectable operating modes: a chuck mode and a drill mode. In the chuck mode, actuation of the drill motor drives the chuck jaws together or apart depending on the motor direction, thereby tightening or loosening a drill bit placed between the jaws. In the drill mode, the chuck jaws remain tightened and a secured drill bit rotates in the operational direction of the motor.
In the context of a drill having a variable speed motor, the chuck jaws may be tightened at a very high speed which makes the grip on a bit in the chuck very tight. However, the operator may attempt to loosen the chuck at a lower speed. In this instance, the chuck may not loosen. Therefore, it is desirable to provide an improved chuck assembly having at least three user selectable operating modes, thereby enabling different functions to be performed during tightening and loosening of the chuck.